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If you’ll be age 65 or older by December 31, 2025, there’s a brand-new reason to celebrate besides your birthday. The recently passed One Big Beautiful Bill Act (OBBBA) created a powerful new bonus deduction designed specifically for seniors. Starting with the 2025 tax year, qualifying taxpayers can claim an extra deduction of up to […]

If gambling is part of your lifestyle or even your profession — Congress just changed the rules, and it’s not in your favor. The recently passed One Big Beautiful Bill Act (OBBBA) introduces a new limitation beginning in 2026: gamblers will be allowed to deduct only 90% of their losses against their winnings. The remaining

The One Big Beautiful Bill Act (OBBBA) has completely reshaped the tax landscape for small businesses. With more than two dozen significant changes covering everything from 100% bonus depreciation to qualified opportunity zones, it’s no wonder business owners and advisors are feeling overwhelmed. That’s where the OBBBA Biz Grid comes in. We built this three-page,

If you’re planning to invest in new equipment, computers, furniture, or other property for your business, the One Big Beautiful Bill Act (OBBBA) brings some very welcome news: you can now deduct the entire cost of those purchases in a single year without limit. And if you’re a manufacturer, it gets even better. The OBBBA

When we talk about saving for the future, the same accounts always get the spotlight 401(k)s, IRAs, maybe even a Roth if you’re feeling savvy. But there’s one account that quietly beats them all in terms of tax advantages, and yet so many people overlook it. I’m talking about the Health Savings Account,  the HSA.

If you’re a business owner, the idea of selling your company and walking away without paying a single dime in federal taxes on your gain might sound too good to be true. But thanks to Section 1202 of the Internal Revenue Code, that dream isn’t just a fantasy—it can actually become a reality, provided you

Here’s the good news: although the One Big Beautiful Bill Act (OBBBA) makes significant changes to the treatment of charitable contributions, none of these rules take effect until January 1, 2026. That means taxpayers and businesses have all of 2025 to take advantage of the current, more favorable system. With some foresight, you can position

If you run your business as a C corporation, there’s a little-known tax trap you need to have on your radar: the Accumulated Earnings Tax, or AET. Here’s how it works  and why it can be a nasty surprise if you’re not prepared. Why the AET Exists The IRS doesn’t love it when C corporations

Unfortunately, not all of the news under the OBBBA is positive. While non-itemizers will celebrate new opportunities to deduct their contributions, those who itemize deductions, make substantial charitable gifts, or represent corporations with significant philanthropic budgets will encounter new limitations beginning in 2026. At the heart of these changes is a new “floor” requirement for

Normally, the IRS limits business meal deductions to 50%. But in 2021 and 2022, a special COVID – era law temporarily allowed 100% deductions for certain meals to help the restaurant industry. Even though this provision has expired, it’s still important to understand the rules both for past deductions and for correctly handling audits. The